Freddie Mac PMMS finds rates inch over five percent – NMP Skip to main content

Freddie Mac PMMS finds rates inch over five percent

NationalMortgageProfessional.com
Feb 25, 2010

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.05 percent with an average 0.7 point for the week ending February 25, 2010, up from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 5.07 percent. The 15-year FRM this week averaged 4.40 percent with an average 0.7 point, up from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.16 percent this week, with an average 0.6 point, up from last week when it averaged 4.12 percent. A year ago, the five-year ARM averaged 5.06 percent. The one-year Treasury indexed ARM averaged 4.15 percent this week with an average 0.6 point, down from last week when it averaged 4.23 percent. At this time last year, the one-year ARM averaged 4.81 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. “Interest rates for 30-year fixed mortgages followed long-term bond yields higher and rose above five percent this week amid a mixed set of economic data reports” said Frank Nothaft, Freddie Mac vice president and chief economist. “For instance, the January producer price index jumped well above the market consensus, but the consumer price index remained subdued and consumer confidence declined to the lowest level since April 2009, according to the Conference Board. There were also varying reports as to the current state of the housing market. The S&P/Case-Shiller national home price index rose for the third consecutive quarter in the fourth quarter, albeit at a slower rate, and the 20-city composite index showed an increase in December 2009 for the seventh month in a row; six metropolitan areas experienced positive year-over-year growth, compared to four in November. New home sales, however, unexpectedly slowed in January to the smallest pace since records began in 1963, and the supply of homes at the current sales rate rose to 9.1 months, the most since May 2009.” For more information, visit www.freddiemac.com.
Published
Feb 25, 2010
Redwood Trust Completes Merger With Riverbend

Acquisition plans originally announced April 28th.

Industry News
Jul 06, 2022
MISMO Seeks Comment On Enhanced Version Of iLAD

Updated version includes new USDA GUS specification MISMO v3.4

Industry News
Jul 06, 2022
Bankruptcy Court Judge OKs Financing For FGMC

Financing package will allow FGMC to continue to fund loans in its pipeline.

Industry News
Jul 05, 2022
Opteon Acquires Northeastern Appraisal Associates

This is the fourth acquisition Opteon has made in the last 12 months. 

Industry News
Jul 04, 2022
Lenders Complain FGMC Is 'Radio Silent' On Loans

Company said it would stop purchasing new loans in the wake of its mass layoff last week; seeking court-approved financing.

Industry News
Jun 30, 2022
AnnieMac Home Mortgage Acquires OVM Financial

Wants to expand its outreach into the Mid-Atlantic region.

Industry News
Jun 30, 2022